Bank's Governor Needs To Provide Leadership
Wednesday, 14 November 2001, 9:11 am
Press Release: New Zealand First Party
Bank's Governor Needs To Provide Leadership: Peters
The
New Zealand First leader, Winston Peters is looking for a
reduction in the OCR (Official Cash Rate) of at least 0.75%.
“It is time for the Governor to show some leadership,” Mr.
Peters said.
“New Zealand has been the last to move for
years. It is time we led instead of following the likes of
the U.K., the U.S.A., and Europe. As we head into a
downturn we should make every effort to give business a
fillip. This will not happen if the assessment of the risks
around our economic outlook is again inaccurate.
“The
conservative path of following others has artificially
denied liquidity and propped up interest rates at a cost of
hundreds of millions of dollars. It is time for a braver
monetary policy that breathes life into our sagging economy
and nothing less than a 0.75% decrease in the cash rate will
do,” Mr. Peters said.
ENDS
© Scoop Media
Support the news you love
Scoop has been a champion of independent journalism and open publishing for over 20 years. It stands for informing New Zealanders through straight-talking independent journalism, and publishing news from politics and a huge range of sectors. Now, more than ever, sustainable financial support will help to keep these vital and participatory media services running.
Find out more and join us:
Become a member
Get our free pānui
For black youth in America, there can be only three ways out of the ghetto: athletics, music or drug dealing. And for every individual who succeeds in making it out, dozens more attach themselves to their celebrity crews in order to bask in the reflected glory, and partake of the lifestyle. And what rap musician can afford to turn their back entirely on the ‘hood, when staying street and staying real is what their audience demands of them..?
More>>